Talent Tip #23: Why We Lose Talent: (Non-Financial) Incentives Matter

As you might imagine, I’m in a position to hear about the motivations people have for changing jobs. Perhaps surprisingly, it’s not just about the Benjamins. In no particular order, here are the most common reasons cited:

Desire for more money

Lack of challenge

Not enough freedom/autonomy

Instability of the organization

Unhealthy organizational culture

We don’t have time to tackle all of those now, but I want to focus on the two that are probably the easiest for organizations to manage: #2 and #3.

Time and time again, I see incredibly talented individuals leave perfectly good jobs because they don’t feel their skills are being fully utilized or they feel micromanaged. So when I saw this incredibly insightful video (thanks to Max Borders of the Free to Choose Network for highlighting it recently), I was struck by Dan Pink’s thoughts about what leads to better performance and happiness in the workplace. It turns out non-financial incentives matter a great deal.

If you’ve got 11 minutes and want to know how to retain your best talent, tune in!